Market View 21 August , 2007

MARKETS FIRM BUT NOT ABLE TO SUSTAIN

ON FRIDAY THE MARKETS OPENED FIRM & OPENED UP WITH MORE THEN 500 ODD POINTS UP BUT AT HIGHER LEVELS WE SAW SOME PROFIT BOOKING & ENDED UP WITH JUST 285 POINTS UP ON SENSEX.

FROM THIS ONE CAN MAKE OUT THAT MARKETS ARE WITNESSING SELLING PRESSURES AT HIGHER LEVELS.

NIFTY VIEW :
NIFTY CLOSE : 4209
SUPPORTS : 4180, 4140
RESISTANCES : 4225, 4240, 4300

FOR TODAY ONE CAN EXPECT RANGE BOUND MARKETS WITH +VE BIAS.

GOOD DAY , HAPPY INVESTING

POST CLOSING UPDATES :-)

TODAY MARKETS OPENED FIRM BY MORE 125 ODD POINTS UP & THEN SOME PROFIT BOOKING STARTED. MARKETS ENDED JUST 450 ODD POINTS DOWN ON SENSEX DUE TO HIGH UNCERTAIN POLITICAL PROBLEMS HAPPENING AT THE CENTRE ON ACCOUNT OF NUKE DEAL & FUTURE ELECTIONS COMING UP. ALL THESE ISSUES ARE TAKEN VERY SERIOUSLY BY MARKETS & THE PROFIT BOOKING & SHORT SELLING HAPPENING ALL ROUND.

TRADERS NEED TO TAKE MUCH MORE CARE WHILE TRADING SHORT TERM , LONG TERM PLAYERS NEVER BOTHER WHOSE VISION IS OF 5 YEARS & MORE.

NOT UPDATING CALLS AS THIS POINT OF TIME AS MARKETS HIGHLY VOLATILE & ITS TOO TOUGH TO TRADE UNDER SUCH SITUATIONS. FOR LONG TERM THIS IS TOO EARLY TIME TO BUY.

GOOD DAY AHEAD, HAPPY INVESTING